[Opinion] Gold price slides lower while traders take the profit and run in the Gold rally

Gold price down on heavy profit-taking

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Spot gold fell nearly 1% to $3,084 an ounce.

Gold Dips from Record High as Market Turmoil Sparks Profit-Taking

The downturn came as investors reacted to newly imposed tariffs, which have fueled fears of slower economic growth.s Earlier in the session, spot gold surged to a historic peak of $3,167.57 before retreating by 0.85% to around $3,106.99. Meanwhile, U.S. gold futures settled down 1.4% at $3,121.70. Market analysts believe the drop is partly due to profit-taking and margin calls, as traders liquidate profitable gold positions to cover losses from …

Gold price slides lower while traders take the profit and run in the Gold rally

Gold price (XAU/USD) snaps under pressure from the selling orders on Thursday, selling off over 1.25% towards $3,095 at the time of writing. Traders are taking profit, pushing the Bullion price below important pivotal levels.